Could this be of any help? http://hermansberghem.blogspot.com/2008/02/system-policies-must-have-full-control.html
Marek Chmel, WBI Systems (MCTS, MCITP, MCT, CCNA)
Please Mark As Answer if my post solves your problem or Vote As Helpful if a post has been helpful for you.
I have unchecked operate as sytem account for two users (ntauthority\local user & myself) both have full control and full read options. Still it ios giving sdame error. Actually, I am not getting the "New" tab in the ribbon itself to create any service application in manage service applications.
Thanks for your question, firstly please make sure you have install the SharePoint Server 2010 SP1, which is available at this link Download and install SharePoint Server 2010 SP1.
Besides, I would recommend you follow this document about how Install PowerPivot for SharePoint http://msdn.microsoft.com/en-us/library/ee210708(v=sql.110).aspx
Please remember to mark the replies as answers if they help and unmark them if they provide no help.
I had the exactly the same issue now. I realised that I actually needed to have the Claims to Windows Token Service, Excel Services and Secure Store running on each server in my farm. If you have a SQL server with SP installed, on this server too.
Log in with the SPFarm account and try again. This worked for me.